Having already owned and managed one of the most successful Real Estate teams in the area, Joe Maggio of the Maggio Shields Team, reinvented The Maggio Shields Real Estate Brokerage at First Street Station, but with a twist on the typical office.  There are actually two businesses in one, a Euro-Café known as The Café’ with great veranda seating, the locals call “The View”, and a real estate office.  My business partner Bill Shields and co developer and another friend had similar ideas of sharing the space with the preexisting restaurant equipment and voila, our The Maggio Shields Real Estate Café’ was born.  Our first day we did 6 lunches and were pleased and then the second day we did 64 and I thought hold on.

NASCAR week at the beach was a great time to open and sharing the second level of the mall with “Hooters” gave us a ton of foot traffic.   Displaying our inventory of current listings along with a snazzy power point window display allowed people to interact with an office in a different way than before.  As they checked out the menu which includes “Shake & Bake” pork chop, Tuned-up Mac, Organic Egg Salad or Baltimore Shrimp Salad or casually sipped one of the best Cappuccino’s in town, they were able to peruse the inventory.   And when there was a question about price and location, guess what, one of our competent agents was there to help.

And can we talk about the work environment for the agents.  None of the desks are assigned, and there is free wireless throughout with state of the art printing services and scanning equipment. The agent cans meet with a client in the restaurant space or out overlooking the Avenue.   One of our newest associates, suggested we add lockers for tennis shoes, for a walk break along the board walk during lunch, which we’ve done.  This is slowly turning out to be the best job ever.   There is nothing like getting a ½ Gouda Grilled Cheese or scone delivered to your desk.  Yum!  Come in and check us out at 70 Rehoboth Avenue on the Mezzanine level, in Rehoboth Beach, Delaware or check us out online at www.rehobothbeachliving.com

It only took a few large property purchases to settle this week in Rehoboth Beach including an older, but modern, Ocean-front home, that sold for an astonishing $5.5 Million that’s creating the buzz.    What is even more astonishing is that I have the same view from my condo looking down.  If this isn’t a show of confidence in our quaint Delaware beach town then nothing is.  A few more of our million dollar homes also closed this week, but that’s not all, standing inventory of Single Family homes in the $300’s and resale condominiums in the $200’s are vanishing.

So what is it and why the interest in buying homes in Delaware?  Well until the recent market decline we had consistent double digit appreciation along twenty five miles of pristine waterfront.  We have also some of the friendliest property and sales tax structures in the country.   You can own a beach front property in Rehoboth and pay as little as $1,200 in annual property tax and if you are a senior and have established residency for the past two years you can cut your taxes by a third avoiding most of the school levy.

This is ringing a tune to our neighboring Jersey and New York friends who have found out that we are really not that far away, are easy to get along with,  and have way too many commonalities to name except for taxes.  Delaware has had some record sales in the past and extreme numbers in new building units, featuring almost every National Builder from Pulte to Toll Brothers, but where have the buyers gone that were coming and planning to retire to Delaware?  I think they where just waiting, making sure the stock market was going to stay put and hover around 10,000, that the sky was not truly falling, and that prices would soften.  All of this is happening and a lot of buyers, who where sitting on the fence, yet again, are making the move.

If you have been waiting for the perfect beach property or looking to retire to Delaware, or just adding Real Estate to your portfolio give me a call, Joe Maggio, “Your Beach Real Estate Source”, Maggio Shields Team 302-226-3770 or on the web @ www.RehobothBeachliving.com .

Really was an eye opener on how truly cyclical our business is, can and will be.  Regardless of the atmosphere for buying you are guaranteed that prices will go up and down and so will interest rates.  Maintaining a business during this in between period is tough.  You got to know your niche, put together a business plan shred some old philosophies and strategies, cater to your niche, and mingle.  Having a good time is all part of the fun of our job. Judging from the two parties I am attending this week, my niche are single men in their 50’s, who are Francophiles, who serve sparse appetizers and strong drinks or rich house wives, with a pension for Interior Design, who give back to the community through a mixture of Seafood Lasagne and fine wine.  No offense, you two you know I love you both.

There were several good ideas power-pointed-away on the screen, but getting real world advice from some fellow pros that have been down this road many times, and survived, was invaluable.  The prices of homes have dropped nationally in the range of 30%, but sellers still have unrealistic expectations on selling in this market.  And buyers are taking the Robin Hood approach to buying minus a couple of quivers, but it is no less painful.  How we cope with sellers and buyers and their media-set-expectations that are no longer financially sound to manage is a big part of surviving this market.  It would be different if we were being paid an hourly wage, but we are not, nor are we typically are not reimbursed for a listing that doesn’t sell because.

Is your Realtor getting educated on how to handle the current market conditions?  If not please give me a call to discuss your best approach to buying or selling in this market, Joe Maggio, Your Beach Real Estate Source and friend, Mann and Sons, Inc. Maggio Mann McVey, 302-226-3770 or www.RehobothBeachLiving.com .

So let me tell you that beach life is fun, laid back, and sophisticated.  Yeah flip flops to Black tie.  Living in Rehoboth Beach or our neighboring beach communities, you will find great happy hours, educational programs for young and old, a health campus, specialized medicine and even formal balls and world class entertainment.  I was just thinking back as the leaves start to turn that, Jazz Fest will soon be here, and one of my favorites programs was 2 years ago when Queen Latifa performed at the convention center.  After four glasses of red wine a friend and I rushed the stage past the auditorium seating and sang every song with the Jazz Diva until the lights came up.  I am sure she will remember Rehoboth well, but not sure if she’ll come back.

Yeah, this is Delmarva.  And yes the birthplace of the broiler chicken production, where Crab Cakes are best served with Chicken Salad and locals believe they are still living in the South, well at least moving that way.   But we are just miles away from the most tax unfriendly state, New Jersey, and they are jumping ship.  Welcome to fantasy Island, where there is 25 miles of coastline, zero sales tax, and property taxes based on a 70’s assessment.

If you would like to learn how to live like a local in Rehoboth Beach contact you’re a connoisseur of everything Rehoboth, Joe Maggio, Your Beach Real Estate Source, and friend 302-226-3770, Mann and Son, Inc. Maggio Mann McVey or at Rehoboth Beach Living

We have, as late, become the discovered country for the surrounding area’s retirees moving from their higher property taxes, congestion and geography.  In particular New Jersey and Maryland who have seen recent tax increases have produced over 45% of my buyers for 2008 and 2009.  There are still your move-up clients who are local and have been able to take advantage of the Rehoboth Beach real estate market conditions.

Surprisingly enough our inventory east of Coastal highway or Route 1 is not that different than we had seen in 1997.  In town Rehoboth Beach inventory of single family homes is still at only 100+. Similar sought-after communities like the Rehoboth Beach Yacht and Country Club and Henlopen Acres also have similar inventory levels.

We are seeing our greatest price adjustments and Inventory gains further west and inland, some with Million Dollar amenities like Jack Nicholas’s Premier Golfing community, The Peninsula, which recently brought a successful group of condominiums to Auction in the 300 range down from the 500’s.

Our inexpensive farming land, ripe for developing, brought every National Builder to Sussex County in 2000, including Gemcraft, Pulte, D.R. Horton, NV and Ryan, KHovaninan, Beezer and Centex as well as our quality local builders creating an availability of homes, floor plans, and elevations, that we haven’t seen before.  New “Green Builders” like Insight Homes, who we represent through a marketing agreement, has been very successful putting together a cost efficient product that shows real value to our savvy shopper.

During the Season you can catch up with me at Breakfast at our local greasy spoon, Crystal Restaurant, or Retro Café for local eggs and friendly service, maybe happy hour at Aqua Grill and then a Red Thai Curry entrée at one of Delaware’s best restaurant’s Planet X or the Spicy Ground Pork at Confucius.  We have so many good restaurants that choosing where to dine often takes most of our discussion over bar talk.  I would be remiss if I didn’t add that you can find me Monday nights at “Frog Pond” for some of the best hot wings at the Beach.  If we are having a microbrew and appetizers at Dogfish or Fins we often just stay there.  Back up in the a.m. for some tread mill work at our local Gold’s Gym or YMCA and then off to Starbucks to java up and twitter on the way.

Living, working and playing in Rehoboth Beach makes the change in Seasons a sad and sweet juxtaposition.  I do love it when the population of the town changes from a couple of thousand to almost a hundred thousand as a business owner, but you can almost feel the town exhale as the leaves start to change and the beaches begin empty.  I would rather be Rehoboth Beach living than anywhere else.

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Joe Maggio is the director of Rehoboth Beach Living a reator and brokerage that specializes in beach homes for sale in Delaware.